Consumer inflation rises to 5.4%

Consumer inflation rises to 5.4%

South Africa recorded a second consecutive acceleration in annual inflation, with the figure rising to 5.4% in September.

Consumer inflation soars to 13-year high
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This brings the Consumer Price Inflation back to the same level it was in June. 

 

The Chief Director for Price Statistics, Patrick Kelly, says the CPI increased by 0.6% between August and September. 

 

Transport and food were the main contributors.

 

"The fuel index increased for a second consecutive month, rising by 7.6% between August and September. The price of inland 95-octane petrol jumped by R1.71 in September, reaching a 13-month high of R24.54," says Kelly. 

 

On food, he says after a cooled five months, inflation ticked slightly higher to 8.1% from 8.0% in August.


READ: Motorists expected to fork out less for fuel in November

 

Meat, fish, oils and fats, fruit and non-alcoholic beverages all registered higher annual rates in September.

 

"Lower rates were recorded for bread & cereals, sugar, sweets & desserts, vegetables and milk, eggs and cheese. Meat prices increased on average by 0.6% between August and September, pushing the annual rate up to 3.8%," says Kelly. 

 

"Poultry-related products experienced some upward price movements in September as producers started to cull birds in response to the outbreak of avian flu.

 

"Examples include fresh whole chicken up 2.2%, fresh chicken portions up 2.2% and non-IQF chicken portions up 1.9%. IQF chicken portions and chicken giblets were slightly cheaper."

 

Egg prices increased by 0.3% due to the impact of bird flu.

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